Fidelity Cuts 800 Jobs in Tech Overhaul as Goldman Sachs and Citi Reshuffle Senior Ranks

Fidelity Investments is restructuring its technology and product-delivery teams to change how they collaborate on development, operations and product implementation. Goldman Sachs and Citi are also changing senior roles, reflecting continued efforts by large financial institutions to reorganize technology resources and regional management structures. None of the personnel moves involved a transaction value.

Fidelity Investments most recently announced plans to cut about 800 employees. Goldman Sachs added Stephan Feldgoise and Joshua Schiffrin to its management committee, while Citi hired a new executive to oversee its South Africa business. Reports did not specify the announcement date, the Citi appointee’s name, compensation figures or when the personnel changes would take effect.